Common use of Trust's Assignment of Purchased Receivables Clause in Contracts

Trust's Assignment of Purchased Receivables. With respect to each Receivable repurchased by UAC pursuant to Section 7.02, or deemed to be so repurchased pursuant to Section 8.02, purchased by the Servicer pursuant to Section 8.07 or the Servicer or any other Person designated by the Servicer pursuant to Section 16.02, the Trust shall assign, as of the last day of the Collection Period during which such Receivable became a Defaulted Receivable or became subject to repurchase by UAC or purchase by the Servicer or such other Person, without recourse, representation, or warranty, to UAC, the Servicer or such other Person (as the case may be) all the Trust's right, title, and interest in and to such Receivables, and all security and documents relating thereto, such assignment being an assignment outright and not for security. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, the Owner Trustee shall, at the Servicer's expense, take such steps as the Owner Trustee deems necessary to enforce the Receivable, including bringing suit in its name and/or the name of the Indenture Trustee.

Trust's Assignment of Purchased Receivables. With respect to each Receivable repurchased by UAC BVAC pursuant to Section 7.027.02 hereof, or deemed to be so repurchased pursuant to Section 8.028.08 hereof, purchased by the Servicer pursuant to Section 8.07 8.10 hereof or the Servicer or any other Person designated by the Servicer pursuant to Section 16.0216.02 hereof, the Trust shall assign, as of the last day of the Collection Period during which such Receivable became a Defaulted Charged-Off Receivable or became subject to repurchase by UAC BVAC or purchase by the Servicer or such other Person, without recourse, representation, or warranty, to UACBVAC, the Servicer or such other Person (as the case may be) all the Trust's right, title, and interest in and to such Receivables, and all security and documents relating thereto, such assignment being an assignment outright and not for security. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, the Owner Trustee shall, at the ServicerBVAC's expense, take such steps as the Owner Trustee deems necessary to enforce the Receivable, including bringing suit in its name and/or the name of the Indenture Trustee.

Trust's Assignment of Purchased Receivables. With respect to each Receivable repurchased by UAC BVAC pursuant to Section 7.027.02 hereof, or deemed to be so repurchased pursuant to Section 8.028.08 hereof, purchased by the Servicer pursuant to Section 8.07 8.10 hereof or the Servicer or any other Person designated by the Servicer pursuant to Section 16.0216.02 hereof, the Trust shall assign, as of the last day of the Collection Period during which such Receivable became a Defaulted Charged-Off Receivable or became subject to repurchase by UAC BVAC or Trust and Servicing Agreement purchase by the Servicer or such other Person, without recourse, representation, or warranty, to UACBVAC, the Servicer or such other Person (as the case may be) all the Trust's ’s right, title, and interest in and to such Receivables, and all security and documents relating thereto, such assignment being an assignment outright and not for security. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, the Owner Trustee shall, at the Servicer's BVAC’s expense, take such steps as the Owner Trustee deems necessary to enforce the Receivable, including bringing suit in its name and/or the name of the Indenture Trustee.

Trust's Assignment of Purchased Receivables. With respect to each Receivable repurchased by UAC pursuant to Section 7.02, or deemed to be so repurchased pursuant to Section 8.02, purchased by the Servicer pursuant to Section 8.07 or the Servicer or any other Person designated by the Servicer pursuant to Section 16.02, the Trust shall assign, as of the last day of the Collection Period during which such Receivable became a Defaulted Receivable or became subject to repurchase by UAC or purchase by the Servicer or such other Person, without recourse, representation, or warranty, to UAC, the Servicer or such other Person (as the case may be) all the Trust's right, title, and interest in and to such Receivables, and all security and documents relating thereto, such assignment being an assignment outright and not for security. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, the Owner 49 Trustee shall, at the Servicer's expense, take such steps as the Owner Trustee deems necessary to enforce the Receivable, including bringing suit in its name and/or the name of the Indenture Trustee.

Trust's Assignment of Purchased Receivables. With respect to each Receivable repurchased by UAC BVAC pursuant to Section 7.02, or deemed to be so repurchased pursuant to Section 8.028.08, purchased by the Servicer pursuant to Section 8.07 8.10 or the Servicer or any other Person designated by the Servicer pursuant to Section 16.02, the Trust shall assign, as TRUST AND SERVICING AGREEMENT 94 of the last day of the Collection Period during which such Receivable became a Defaulted Charged-Off Receivable or became subject to repurchase by UAC BVAC or purchase by the Servicer or such other Person, without recourse, representation, or warranty, to UACBVAC, the Servicer or such other Person (as the case may be) all the Trust's right, title, and interest in and to such Receivables, and all security and documents relating thereto, such assignment being an assignment outright and not for security. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, the Owner Trustee shall, at the ServicerBVAC's expense, take such steps as the Owner Trustee deems necessary to enforce the Receivable, including bringing suit in its name and/or the name of the Indenture Trustee.

Trust's Assignment of Purchased Receivables. With respect to each Receivable repurchased by UAC pursuant to Section 7.02, or deemed to be so repurchased pursuant to Section 8.02, purchased by the Servicer pursuant to Section 8.07 or the Servicer or any other Person designated by the Servicer Certificateholder pursuant to Section 16.02, the Trust shall assign, as of the last day of the Collection Period during which such Receivable became a Defaulted Receivable or became subject to repurchase by UAC or purchase by the Servicer or such other Personthe Certificateholder, without recourse, representation, or warranty, to UAC, the Servicer or such other Person the Certificateholder (as the case may be) all the Trust's right, title, and interest in and to such Receivables, and all security and documents relating thereto, such assignment being an assignment outright and not for security. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, the Owner Trustee shall, at the Servicer's expense, take such steps as the Owner Trustee deems necessary to enforce the Receivable, including bringing suit in its name and/or the name of the Indenture Trustee.

Trust's Assignment of Purchased Receivables. With respect to each Receivable repurchased by UAC United Fidelity pursuant to Section 7.02, or deemed to be so repurchased pursuant to Section 8.02, purchased by the Servicer pursuant to Section 8.07 or the Servicer or any other Person designated by the Servicer pursuant to Section 16.0215.02, the Trust shall assign, as of the last day of the Collection Period during which such Receivable became a Defaulted Receivable or became subject to repurchase by UAC United Fidelity or purchase by the Servicer or such other Person, without recourse, representation, or warranty, to UACUnited Fidelity, the Servicer or such other Person (as the case may be) all the Trust's right, title, and interest in and to such Receivables, and all security and documents relating thereto, such assignment being an assignment outright and not for security. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, the Owner Trustee shall, at the Servicer's expense, take such steps as the Owner Trustee deems necessary to enforce the Receivable, including bringing suit in its name and/or the name of the Indenture Trustee.

Trust's Assignment of Purchased Receivables. With respect to each Receivable repurchased by UAC pursuant to Section 7.02, or deemed to be so repurchased pursuant 49 to Section 8.02, purchased by the Servicer pursuant to Section 8.07 or the Servicer or any other Person designated by the Servicer pursuant to Section 16.02, the Trust shall assign, as of the last day of the Collection Period during which such Receivable became a Defaulted Receivable or became subject to repurchase by UAC or purchase by the Servicer or such other Person, without recourse, representation, or warranty, to UAC, the Servicer or such other Person (as the case may be) all the Trust's right, title, and interest in and to such Receivables, and all security and documents relating thereto, such assignment being an assignment outright and not for security. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, the Owner Trustee shall, at the Servicer's expense, take such steps as the Owner Trustee deems necessary to enforce the Receivable, including bringing suit in its name and/or the name of the Indenture Trustee.

Trust's Assignment of Purchased Receivables. With respect to each Receivable repurchased by UAC BVAC pursuant to Section 7.027.02 or Section 8.08, or deemed to be so repurchased pursuant to Section 8.028.05, purchased by the Servicer pursuant to Section 8.07 8.10 or the Servicer or any other Person designated by the Servicer pursuant to Section 16.02, the Trust shall assign, as of the last day of the Collection Period during which such Receivable became a Defaulted Charged-Off Receivable or became subject to repurchase by UAC BVAC or purchase by the Servicer or such other Person, without recourse, representation, or warranty, to UACBVAC, the Servicer or such other Person (as the case may be) all the Trust's right, title, and interest in and to such Receivables, and all security and documents relating thereto, such assignment being an assignment outright and not for security. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, the Owner Trustee shall, at the ServicerBVAC's expense, take such steps as the Owner Trustee deems necessary to enforce the Receivable, including bringing suit in its name and/or the name of the Indenture Trustee.